{Economic Information Daily, 24th} Alibaba (09988) is currently down 1.4%, trading at HK$108.3; Tencent (00700) down 1.4%, at HK$435; Baidu (09888) down 1.4%, at HK$87.35; Kuaishou (01024) down 0.3%, at HK$30.7; JD.com (09618) down 0.7%, at HK$105.4; Meituan (03690) down 0.6%, at HK$72.4.
U.S. manufacturing PMI surged to 57 in September, far exceeding the expected 53.7; services PMI rose from 56.5 in August to 58.7, higher than the estimated 55.8. Additionally, the OECD raised its inflation forecast for the G20 in 2027 to 3.6%, 0.5 percentage points higher than its June estimate, and projected one additional rate hike by the U.S. Federal Reserve this year.
Interest rate markets indicate the probability of a 25-basis-point rate hike by the Fed in October has sharply increased from 55.4% a day earlier to over 68%. The yield on the U.S. 10-year Treasury bond has once again risen above the 5% level, reaching as high as 5.139%, while the U.S. 30-year fixed mortgage rate increased by 15 basis points to 7.12%, a more than two-year high.
Currently, the Hang Seng Index stands at 24,649, down 184 points or 0.7%, with turnover of nearly HK$2.2 billion on the main board. The Hang Seng China Enterprises Index is at 8,215, down 58 points or 0.7%. The Hang Seng Tech Index is at 4,344, down 34 points or 0.8%. (vs)
U.S. manufacturing PMI surged to 57 in September, far exceeding the expected 53.7; services PMI rose from 56.5 in August to 58.7, higher than the estimated 55.8. Additionally, the OECD raised its inflation forecast for the G20 in 2027 to 3.6%, 0.5 percentage points higher than its June estimate, and projected one additional rate hike by the U.S. Federal Reserve this year.
Interest rate markets indicate the probability of a 25-basis-point rate hike by the Fed in October has sharply increased from 55.4% a day earlier to over 68%. The yield on the U.S. 10-year Treasury bond has once again risen above the 5% level, reaching as high as 5.139%, while the U.S. 30-year fixed mortgage rate increased by 15 basis points to 7.12%, a more than two-year high.
Currently, the Hang Seng Index stands at 24,649, down 184 points or 0.7%, with turnover of nearly HK$2.2 billion on the main board. The Hang Seng China Enterprises Index is at 8,215, down 58 points or 0.7%. The Hang Seng Tech Index is at 4,344, down 34 points or 0.8%. (vs)
